Eurozone Retail Sales Down for 3rd Month Nov 2, 2010

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The latest retail PMI (Purchasing Managers’ Index,) data from Markit covering the Eurozone showed retailers taking further slide in sales revenues in October.

The seasonally adjusted Eurozone Retail PMI, which tracks monthly changes in the value of sales at retailers, remained below the no-change mark of 50.0. The PMI fell to 48.0, down from 48.7 in September and 49.7 in August.

The Eurozone PMI survey covers retailers in the three largest euro economies, Germany, Italy, and France.

German retail sales rose slightly in October, but the rate was marginal and much softer than the strong gains seen in June and July during the World Cup.

Markit said Italian retail sales declined for the ninth month, although the rate of reduction was the slowest in this sequence.

In France, the rate of decline accelerated to its fastest since January, Markit reported. French retailers linked weakness to a difficult social climate and uncertainty about the wider economy.

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